RE: Non-productive assets7 Oct 2016 23:00
[quote]You said non-productive. Big difference between that and non-producing. [/quote]
How can you say that there is a big difference unless you do not understand what you are talking about. I would have been better stating non[producing rather than non=productive. At the end of the day it is still basically the same thing so where is the big difference?
Fact is the Georgia licenses XIA, M and N do not produce anything. They are non-productive. They are unlikely to be producing in the near future either as it would be necessary to first complete 3D seismic over any structures identified in previous 2D seismic prior to any drilling. Is it necessary to complete further 2D seismic? Nothing could be done before next Georgian summer in any event so there would be time delays.
Cost of 3D and a drill in Georgia? Not much change out of $10m.
Do you still tell me that there is a "big difference" between non-productive and non-producing?